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ABI welcomes plan to scrap controversial EU Vnuk motor insurance law

The Department for Transport has confirmed plans to scrap the controversial EU 'Vnuk' law. If the regulations had been implemented the Motor Insurance Bureaux (MIB) would have been liable for compensating all accidents caused by any vehicle used on public and private land, where there is no requirement for insurance and therefore no corresponding insurance premium. The ABI called on Government to stop these unnecessary regulations coming into force. 

Mark Shepherd, Assistant Director, Head of General Insurance, at the Association of British Insurers, said:

“We welcome the Government’s plan to scrap this unnecessary requirement. This should happen as quickly as possible.

“There would have been no easy way to monitor compliance  and enforcement for those using their vehicles on private land. It would also have been difficult to establish the circumstances of any claim, so increasing the scope for fraud, that ultimately ends up being paid for by  motorists through their insurance premiums.”

 

 

 


Last updated 22/02/2021